Not really having the full amount of capital…Vitalik Buterin Languages… so with anything that you’re learning more about please do study the platform do not just presume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that choice as well so you actually get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying genuine companies if you choose to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so obviously your capital is at threat and we need to bear that in mind do not simply do something since that individual has actually said they’ve made profit 14 months in a row buy these options because you think is the ideal ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
popular for it’s the option to see what other traders are doing incredible we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can in fact say i wish to do precisely what that trader is doing or match that precise portfolio of options and generally each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that indicates if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved really critical you understand what are the expenses of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero charge sites then might not charge you for really buying and selling etfs or funds specific commodities private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you really begin purchasing copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with costs truly important to comprehend these now on there’s a number of costs there isn’t costs to do with actually buying and selling okay so commission costs are totally free nevertheless there are a couple of other fees the very first one is withdrawal fees so you can obviously put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m just withdrawing when i definitely require to now you may say all right that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply one of those options that they have a great deal of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you know depends completely how you’re investing however that is a charge to bear in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they in fact providing you in terms of your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and say give me us dollars rather you need to pay their costs now the terrific aspect of though when you’ve transformed your money you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s truly great utilizing that part of their site will not certainly restrict you in any way however we have to be aware of 2 other charges the very first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Vitalik Buterin Languages.
You are given many choices with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but do not know which system to choose, then this may be exactly what you require.